The government's sixth largest contractor, United Technologies Corp, cancelled plans to furlough around 4,000 employees.

Apollo Tyres Ltd and Cooper Tire & Rubber Co could not seem to agree on the initial price of its buyout deal.

HTC, due to Apple and Samsung dominance and the proliferation of cheap smartphones from China, saw its market share decline to just 2.8%.

Norilisk CEO Potanin, who purchased stock at the collapse of the Soviet Union, intends to make the mining firm's management world class.

With the US government's partial shutdown, talks between US and EU regarding the creation of the biggest free trade zone in the world scheduled next week in Brussels had been scrapped, said a Reuters report.

The naivete of Volkswagen was called out by Tennessee Republican Senator Bob Corker. Tenesseee Republican Senator Bob Corker issued a warning to Volkswagen AG if the German carmaker allows the United Auto Workers to represent its workers, it would be its 'biggest mistake', The remarks were quoted by German newspaper Handelsblatt.

A default would bring catastrophic results to the world economy. The world is anticipating the showdown on Capitol Hill over the US federal budget and debt ceiling.

The Financial Times reported that US hedge funds had been aggressively investing in the struggling banking sector of Greece.

The United States of America had moved closer to reaching a first ever default on the nation's debt after House Speaker John Boehner ruled out a straightforward bill to increase the country's borrowing limits without approval from the US President, said The Economic Times report.

After the end of Bank of Korea's governor term, the central bank would need a new head that has strong global focus and a firm grip on international economics, said a presidential adviser.